Aerojet Rocketdyne Holdings, INC.
(NYSE: AJRD)
Aerojet Rocketdyne Holdings, formerly GenCorp, is a technology based company that provides innovative solutions to its customers in the aerospace and defense markets.
Dunmore
For more than 50 years, the Dunmore brand has stood for quality in coated, laminated and metallized films.
HandyTube Corp
HandyTube is a leading manufacturer of seamless, stainless steel and nickel alloy tubing for a wide range of applications and markets.
IndianaTube Corp
Indiana Tube Corporation is a steel tube manufacturer specializing in welded, low carbon & HSLA steel tube.
JPS Composite Materials Corp
JPS Composite Materials is an ISO-9001 certified US based weaver of composite reinforcement and ballistic protection fabrics. JPS Composite Materials includes the legacy Clark Schwebel and JPS Industrial Fabrics/JPS Glass operations.
Kasco
Kasco is a subsidiary of iGo, headquartered in St. Louis, Missouri.
KASCO is the industry leader in providing metallic blade products for the meat cutting, food cutting, and wood cutting industries to the global market.
Lucas-Milhaupt, Inc
Lucas-Milhaupt is a global provider and leading producer of metal joining products and services for thousands of companies worldwide.
MTE Corp
MTE Corporation was formed in 1982 by bringing together Milwaukee Transformer Co., Transformer Design Inc. and Milwaukee Electronics Corp. – companies that specialized in different fields of magnetics and transformer designs and were long established in their respective fields.
MTI
MTI designs and creates customized motion-control solutions, including high-value custom motors and precision-threaded products, for the world’s most demanding applications in numerous industries, including commercial aerospace, defense, oil and gas, and transportation.
OMG
OMG is a leading US manufacturer and global supplier of specialty fasteners, adhesives, tools, and related products for the commercial and residential construction markets.
Steel Connect
(NASDAQ GS: STCN)
Steel Connect, Inc. is a publicly-traded diversified holding company (Nasdaq Global Select Market symbol "STCN") with a wholly-owned subsidiary, ModusLink Corporation, that has a market-leading position in supply chain management.
Steel Energy Services
Steel Energy provides well servicing, workover and other services to the oil and gas industry.
Steel Sports
Steel Sports is a social impact company committed to creating a new standard in youth sports and coaching while forging the next generation of leaders and creating a positive experience for 100,000 athletes and their families each year.
WebBank
WebBank is headquartered in Salt Lake City, Utah, and is an FDIC-insured, state-chartered industrial bank that provides customized consumer and commercial financing solutions on a nationwide basis. WebBank is a leading provider of closed-end and revolving private-label and bank card financing programs.
Steel Partners and its affiliates comprise a global diversified portfolio of product and service businesses. Together, our businesses generate over $1.6B in revenue, and employ over 3,500 employees in 70 locations. We are interested in growing our portfolio of publicly-traded and private companies through acquisition. We prefer profitable acquisition targets, but we will consider unprofitable bolt-on targets.
Our Focus
Steel Partners focuses on enhancing long-term value through the implementation of operational and strategic programs, including operational excellence, strategic sourcing, corporate development, legal and other shared services.
New Platforms
We are interested in new industrial or aerospace/defense businesses with $25-75MM of EBITDA. We prefer companies with gross margins above 20%, high return on invested capital, sustainable competitive advantages and strong brands. We like businesses participating in structural changes where the business is positioned to gain market share. We will consider a transaction or series of transactions for up to $1B in enterprise value.
Alternatives
We are interested in purchasing all or a significant portion of a private equity fund that is beyond its investment period, and we believe that our approach could yield significant advantages to the limited partners and general partner. We are willing to work with the general partner and share fees and upside based on attaining mutually agreed performance goals. We would be willing to look at portfolios of up to $1B in enterprise value.
Special Situations
We have significant experience in working through pre-bankruptcy and bankruptcy issues. We prefer situations where the business has the characteristics stated above, but where the balance sheet is challenged and where our balance sheet can provide a meaningful improvement to the company’s outlook.
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